Gold prices rose by more than 1% during these moments of trading on Monday, supported by a decline in the US dollar, as investors seek greater clarity regarding trade developments ahead of August 1, which is the potential deadline for new tariffs to be imposed by the United States.

Giovanni Staunovo, a commodity analyst at UBS, stated: "The current slight support comes from the weakness of the US dollar. As the August 1 deadline approaches, the market will focus on whether any trade deals will be announced, or if the tariffs will be implemented as scheduled."

Spot gold recorded an increase of 1.13% to reach $3,388 per ounce, while US gold futures rose by 1.2% to $3,398.